Hyundai Motor Co said on Thursday it will launch a long-range electric vehicle with a driving range of 500 km (311 miles) per charge after 2021, seeking to address investor concerns that it is lagging rivals in the green car race.

The automaker and affiliate Kia Motors Corp, which together rank fifth in global vehicle sales, also said they are planning 31 eco-friendly models by 2020, up from a previously flagged 28.